Warburg Pincus Receives Easycash Bids

LONDON (Reuters) – First-round bids are in for the auction of German credit card transaction processing firm easycash, with a number private equity sponsors and trade buyers looking at the asset, banking sources said on Thursday.

The auction has generated a lot of interest — including from banks willing to back a deal with debt — as one of the few currently active in the European market, one of the sources added.

Easycash is being sold off by private equity firm Warburg Pincus, which acquired the company in November 2006 from First Data International.

(Reporting by Alasdair Reilly; editing by John Stonestreet)